I’m looking at
$HYPE now and the potential bottom.
The level is definitely interesting, but it’s important to understand that for now we’re just interacting with the weekly fractal around 29.35$.
Liquidity has been taken from it, but that alone doesn’t confirm anything yet.
If the week had closed green, meaning above the opening level, roughly above 29.7$, then we could talk about a more confident local reversal.
The first serious problematic zone above is 31.50$. If the market can break through it and hold, then we could really start considering the scenario that this was a local bottom.
But I would still give the price one more week to see confirmation.
If things develop favorably, the logical upside target is around 38$ this is the nearest significant area above where the market could return during a normal recovery structure.
That’s roughly how I see the situation right now.